Loading…
U.S. Henry Hub natural gas rose more than 5% on May 17 to about $3.11 per MMBtu as early cooling demand began in the lower Eastern US. Storage was below the five-year average, and analysts said the warm spell might be short-lived.
Weather-driven demand for power generation lifts near-term gas prices. Analysts expect the gain to fade if temperatures normalize, which limits its lasting effect on costs.
oilprice.comJulianne GeigerMay 17, 2021After 221 past bullish weather events, Natural Gas moved a median +3.3% over 5 sessions (61% higher; middle half -5.2% to +14.0%), and -0.3% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
